EEW annouce listing on Nasdaq (US) through a Business Combination

EEW Renewables Ltd, a global developer in the renewable energy sector, has announced a business combination agreement with Compass Digital Acquisition Corp. (CDAQ), a special purpose acquisition company. The transaction is valued at a pre-money enterprise value of $300 million, with a pro forma value of $386 million. Upon closing, the combined company is expected to be listed on Nasdaq.

Founded in 2012, EEW has developed around 1.5 GW of renewable energy projects across Europe and Australia. It focuses on solar photovoltaic (PV), battery energy storage systems (BESS), and green hydrogen. EEW has a pipeline of 9 GW of projects,

The company plans to evolve from a project developer to an independent power producer (IPP) to capture recurring revenue. EEW's CEO, Svante Kumlin emphasized the strategic move to be listed on, Nasdaq (US), a milestone that will enhance the company’s growth and shareholder value.